{"id":5530,"date":"2019-01-28T15:16:45","date_gmt":"2019-01-28T09:46:45","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=5530"},"modified":"2021-08-17T18:41:06","modified_gmt":"2021-08-17T13:11:06","slug":"corporate-and-professional-updates-on-28th-january-2019","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-28th-january-2019\/","title":{"rendered":"Corporate and Professional Updates on 28th January 2019"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e884cbdd046\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e884cbdd046\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-28th-january-2019\/#Direct_Tax_Updates\" title=\"Direct Tax Updates:\">Direct Tax Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-28th-january-2019\/#Indirect_Tax_Updates\" title=\"Indirect Tax Updates:\">Indirect Tax Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-28th-january-2019\/#RBI_Updates\" title=\"RBI Updates:\">RBI Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-28th-january-2019\/#Other_Updates\" title=\"Other Updates:\">Other Updates:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-28th-january-2019\/#FAQs_on_Financial_Sector\" title=\"FAQ\u2019s on Financial Sector:\">FAQ\u2019s on Financial Sector:<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-on-28th-january-2019\/#%E2%80%9CTreat_your_clients_with_high_professionalism_and_they_will_no_more_negotiate_with_you%E2%80%9D\" title=\"&#8220;Treat your clients with high professionalism and they will no more negotiate with you&#8221;\">&#8220;Treat your clients with high professionalism and they will no more negotiate with you&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Direct_Tax_Updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">Direct Tax Updates:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" src=\"https:\/\/ak2.picdn.net\/shutterstock\/videos\/3350942\/thumb\/1.jpg\" alt=\"Related image\" \/><\/p>\n<ul>\n<li style=\"text-align: justify;\">CBDT Chairman said that the Govt. will exceed the Direct Tax Target of Rs 11.5 Lakh Crore in the financial year 2018-19. This will either help the Govt. in restricting FISCAL DEFICIT to 3.3% of the Gross Domestic Product as planned or assist in reducing fiscal slippage.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Indirect_Tax_Updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">Indirect Tax Updates:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/economictimes.indiatimes.com\/blogs\/wp-content\/uploads\/2018\/07\/GST.jpg\" alt=\"Related image\" width=\"708\" height=\"737\" \/><\/p>\n<ul>\n<li style=\"text-align: justify;\">Concerned over a decline in <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> revenues, Tax Officials are likely to examine the High Usage of Input Tax Credit to set off tax liability by businesses. The issue of high ITC was flagged at the meeting of the Group of Ministers (GoM) which was set up by the GST Council to look into the reasons for revenue shortfall being faced by a large number of states.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"RBI_Updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">RBI Updates:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" src=\"https:\/\/taasir.com\/english\/wp-content\/uploads\/2017\/06\/RBI-Logo.jpg\" alt=\"Image result for RBI Hd pics\" \/><\/p>\n<ul>\n<li style=\"text-align: justify;\">The<a href=\"https:\/\/carajput.com\/rbi-consulting.php\"> Reserve Bank of India<\/a> is Building a plan to Release data that would present the number of corporate defaulting on bank loans have down the central bank\u2019s stern presented on February 12 previous year. The regulator is understood to have sounded out the government on the proposed move that could counter arguments of industry lobbies and defend the directive at a time it has been challenged in the court of law.<\/li>\n<li style=\"text-align: justify;\">The Reserve Bank of India issued a policy paper on retail payment systems that proposes to ease norms for the entry of new players in a bid to boost competition and innovation.<\/li>\n<li style=\"text-align: justify;\">The central bank Reserve bank of India is have the opinion that the OIS market needs to be developed in line with the developed countries as it provides an interest rate hedging tool to overseas investors. If FPIs participate in large numbers, liquidity would increase.<\/li>\n<li style=\"text-align: justify;\">RBI Governor Shaktikanta Das will meet Top Global Funds in Singapore and Hong Kong next month to sell India\u2019s Growth Story and shore up Foreign Fund Inflows.<\/li>\n<li style=\"text-align: justify;\">RBI is planning to release NPA data that would demonstrate that the number of corporates defaulting on bank loans have dipped following the RBI\u2019s Stern Directive on February 12 last year that had rattled large, influential borrowers and irked many within the Govt.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Other_Updates\"><\/span><strong><em><span style=\"text-decoration: underline;\">Other Updates:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>In a bid to prevent big economic offenders like Vijay Mallya and Nirav Modi from fleeing the country, the Govt. empowers PSU banks to request Look-Out Circulars (LOCs) against Wilful Defaulters and Fraudsters. The Home Ministry also authorises the Serious Fraud Investigation Office (SFIO), a Statutory Corporate Fraud Investigation Agency, to request LOCs if it feels the suspect may escape from India.<\/li>\n<li>Supreme Court issues contempt notice to RBI for denying information under RTI on Loan Defaulters and details of action taken against banks in connection with fraud.<\/li>\n<li>Zee claims to have reached understanding with lenders, MFs.<\/li>\n<li>Essel group denies link with Nityank lnfra power.<\/li>\n<li>enables PSUs to seek LOCs against defaulters.<\/li>\n<li>Efforts on to double exports from $321 as per prabhu.<\/li>\n<li>Piyush Goyal to meet heads of PSU banks on Monday.<\/li>\n<li>Debt funds have over Rs 8,000 crore invested in Zee group firms.<\/li>\n<li>Zee denies any link with Nityank Infra amid money laundering allegations.<\/li>\n<li>Jio may join race to pick stake in Subhash Chandra&#8217;s Zee Entertainment.<\/li>\n<li>Tata Capital&#8217;s arm to raise up to Rs 3,000 crore through debentures.<\/li>\n<li>TRAI hopeful of 90% customer in new tariff regime by Feb 1 deadline: Chief.<\/li>\n<li>Coal India\u2019s supply to power sector up 8% in Apr-Dec 2018.<\/li>\n<li>Cabinet likely to approve agri-package for farmers on Monday.<\/li>\n<li>Centre must allocate more funds to build roads under the EPC model.<\/li>\n<li>Tax officials may examine high usage of ITC to set off GST liability.<\/li>\n<li>European Union reviewing concessions from Siemens and Alstom on rail deal.<\/li>\n<li>Gold ETFs register\u00a0570 crore outflow in 2018.<\/li>\n<li>Aurobindo recalls nearly 5 lakh bottles of blood pressure lowering\u00a0drug in US.<\/li>\n<li>Donald Trump&#8217;s China tariffs likely to be investigated by the WTO.<\/li>\n<li>PM Modi\u2019s record debt sales before polls to pressure Indian\u00a0bonds.<\/li>\n<li>&#8216;India could be fastest growing among Ems.<\/li>\n<li>NCLT allows Guild Builders to top up shares of Omaxe.<\/li>\n<li>Cotton output may fall to 335 lakh bales for 2018-19.<\/li>\n<li>Vodafone Idea rights issue by February-end; smooth sailing seen.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"FAQs_on_Financial_Sector\"><\/span><strong><em><span style=\"text-decoration: underline;\">FAQ\u2019s on Financial Sector:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">QUES.<\/span><\/em><\/strong> What is the location of the supplier in case of banking and other financial services where multiple locations are involved in providing the services to a customer?<\/p>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">ANS.<\/span><\/em><\/strong>\u00a0 Banking services emanate from the bank account opened by a customer with the branch of a bank or through a contractual relationship between the branch of a bank and the customer. The branch holding the customer\u2019s account is referred to as the \u2018Account Branch\u2019 or the \u2018Home Branch\u2019. An account would include all types of accounts \u2013 viz. interest bearing, non- interest bearing, loan account, deposit account, etc. In the present day of \u201canywhere banking\u201d, the customer avails banking services through mobile\/ internet banking or by visiting any branch of the bank. At times the services are provided through Page 19 of 32 branches \/ locations other than the \u2018Account Branch\u2019 or the \u2018Home Branch\u2019. It is clarified that the services provided by the other branches are actually services provided to the \u2018Home branch\u2019 and are ultimately billed to the home branch. Thus, the location of supplier in such cases is the Home Branch\/Account Branch.<\/p>\n<p style=\"text-align: justify;\"><strong><span style=\"text-decoration: underline;\">QUES.<\/span><\/strong>\u00a0 Would imposition of a fine or penalty for violation of a provision of law be a consideration for the activity of breaking the law, making such activity as service?<\/p>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">ANS.<\/span><\/em><\/strong>\u00a0\u00a0 No Fines and penalties are imposed for breaking the law by a person. They are not in the nature of a consideration for an activity and hence, would not constitute a supply of service.<\/p>\n<p style=\"text-align: justify;\"><strong><em><span style=\"text-decoration: underline;\">Key Due Dates:<\/span><\/em><\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/carajput.com\/services\/tds-return-filing.php\">TDS return<\/a> for Purchase of Property For the month of December 2018 is 30thJanuary 2019.<\/li>\n<li>Due Date of GSTR-1 for Quarterly Return Filler of taxable supplies is 31st January 2019.<\/li>\n<\/ul>\n<p><em><strong><span style=\"text-decoration: underline;\">Quote of the Day:<\/span><\/strong><\/em><\/p>\n<h4><span class=\"ez-toc-section\" id=\"%E2%80%9CTreat_your_clients_with_high_professionalism_and_they_will_no_more_negotiate_with_you%E2%80%9D\"><\/span>&#8220;Treat your clients with high professionalism and they will no more negotiate with you&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Direct Tax Updates: CBDT Chairman said that the Govt. will exceed the Direct Tax Target of Rs 11.5 Lakh Crore in the financial year 2018-19. This will either help the Govt. in restricting FISCAL DEFICIT to 3.3% of the Gross Domestic Product as planned or assist in reducing fiscal slippage. Indirect Tax Updates: Concerned over &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9933,1],"tags":[893,6415,6011,6397,6404,6423,6225,6398,6114,6400,6405,541,7,6428],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5530"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=5530"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5530\/revisions"}],"predecessor-version":[{"id":16136,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/5530\/revisions\/16136"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=5530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=5530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=5530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}